China Animal Healthcare, one of the leading players in China’s animal drugs industry, posted record revenue of RMB160.9 million ($31.3 million) for the three months ended 30 September 2010 (3Q2010).

But net profit declined 64% y-o-y to RMB18.4 million due mainly to the incurrence of numerous non-routine expenses such as professional fees in connection with CAH’s proposed listing on the Stock Exchange of Hong Kong amounting to RMB14.4 million and the non-cash fair value charge of RMB19.2 million for the 13.0 million new shares issued to employees.

The increase in the group’s revenue was mainly attributable to the 29.3% surge in biological drug sales to RMB47.1 million.

The group’s powdered drugs segment also posted another strong performance in 3Q2010 with sales of RMB106.5 million, eclipsing the RMB103.5 million powdered drug sales recorded in the corresponding period.

Injection drug sales fell to RMB7.2 million in 3Q2010, compared to RMB9.7 million on 3Q2009.